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美国艺电（EA）与QVC Group, Inc.（QVCGA）财务数据对比。点击上方公司名可切换其他公司
QVC Group, Inc.的季度营收约是美国艺电的1.4倍（$2.7B vs $1.9B），美国艺电净利率更高（4.6% vs -1.4%，领先6.0%），美国艺电同比增速更快（1.0% vs -9.1%），过去两年QVC Group, Inc.的营收复合增速更高（6.9% vs 3.4%）
美国艺电（EA）是总部位于美国加利福尼亚州雷德伍德城的电子游戏企业，1982年5月由前苹果员工特里普·霍金斯创立。作为早期家用电脑游戏行业的先驱，公司将旗下游戏设计师与程序员称作“软件艺术家”，是全球知名的游戏厂商。
QVC集团是一家美国媒体 conglomerate 企业，由董事长约翰·C·马龙控制，马龙持有该公司多数具有投票权的股份，主营媒体相关业务，是美国本土颇具影响力的传媒集团。
EA vs QVCGA — 直观对比
营收规模更大
QVCGA
是对方的1.4倍
$1.9B
营收增速更快
EA
高出10.1%
-9.1%
净利率更高
EA
高出6.0%
-1.4%
两年增速更快
QVCGA
近两年复合增速
3.4%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.7B |
| 净利润 | $88.0M | $-37.0M |
| 毛利率 | 73.8% | 32.9% |
| 营业利润率 | 6.7% | 3.7% |
| 净利率 | 4.6% | -1.4% |
| 营收同比 | 1.0% | -9.1% |
| 净利润同比 | -70.0% | 97.1% |
| 每股收益（稀释后） | $0.35 | $-17.37 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收EAQVCGA
| Q4 25 | $1.9B | $2.7B | ||
| Q3 25 | $1.8B | $2.2B | ||
| Q2 25 | $1.7B | $2.2B | ||
| Q1 25 | $1.9B | $2.1B | ||
| Q4 24 | $1.9B | $2.9B | ||
| Q3 24 | $2.0B | $2.3B | ||
| Q2 24 | $1.7B | $2.4B | ||
| Q1 24 | $1.8B | $2.3B |
净利润EAQVCGA
| Q4 25 | $88.0M | $-37.0M | ||
| Q3 25 | $137.0M | $-80.0M | ||
| Q2 25 | $201.0M | $-2.2B | ||
| Q1 25 | $254.0M | $-100.0M | ||
| Q4 24 | $293.0M | $-1.3B | ||
| Q3 24 | $294.0M | $-23.0M | ||
| Q2 24 | $280.0M | $20.0M | ||
| Q1 24 | $182.0M | $-1.0M |
毛利率EAQVCGA
| Q4 25 | 73.8% | 32.9% | ||
| Q3 25 | 75.9% | 34.0% | ||
| Q2 25 | 83.3% | 36.4% | ||
| Q1 25 | 80.6% | 34.2% | ||
| Q4 24 | 75.8% | 33.3% | ||
| Q3 24 | 77.5% | 35.3% | ||
| Q2 24 | 84.2% | 36.4% | ||
| Q1 24 | 79.9% | 35.5% |
营业利润率EAQVCGA
| Q4 25 | 6.7% | 3.7% | ||
| Q3 25 | 10.9% | 2.7% | ||
| Q2 25 | 16.2% | -101.6% | ||
| Q1 25 | 20.8% | 0.7% | ||
| Q4 24 | 20.0% | -43.2% | ||
| Q3 24 | 19.0% | 6.5% | ||
| Q2 24 | 21.9% | 6.9% | ||
| Q1 24 | 13.2% | 6.2% |
净利率EAQVCGA
| Q4 25 | 4.6% | -1.4% | ||
| Q3 25 | 7.4% | -3.6% | ||
| Q2 25 | 12.0% | -99.4% | ||
| Q1 25 | 13.4% | -4.8% | ||
| Q4 24 | 15.6% | -43.7% | ||
| Q3 24 | 14.5% | -1.0% | ||
| Q2 24 | 16.9% | 0.8% | ||
| Q1 24 | 10.2% | -0.0% |
每股收益（稀释后）EAQVCGA
| Q4 25 | $0.35 | $-17.37 | ||
| Q3 25 | $0.54 | $-9.89 | ||
| Q2 25 | $0.79 | $-275.46 | ||
| Q1 25 | $0.99 | $-0.25 | ||
| Q4 24 | $1.11 | — | ||
| Q3 24 | $1.11 | $-0.06 | ||
| Q2 24 | $1.04 | $2.57 | ||
| Q1 24 | $0.67 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $2.8B | $2.0B |
| 总债务越低越好 | — | $790.0M |
| 股东权益账面价值 | $6.2B | $-3.1B |
| 总资产 | $13.3B | $7.6B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资EAQVCGA
| Q4 25 | $2.8B | $2.0B | ||
| Q3 25 | $1.1B | $1.8B | ||
| Q2 25 | $1.5B | $897.0M | ||
| Q1 25 | $2.1B | $833.0M | ||
| Q4 24 | $2.8B | $905.0M | ||
| Q3 24 | $2.2B | $873.0M | ||
| Q2 24 | $2.4B | $1.2B | ||
| Q1 24 | $2.9B | $1.1B |
总债务EAQVCGA
| Q4 25 | — | $790.0M | ||
| Q3 25 | — | $5.9B | ||
| Q2 25 | — | $4.9B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | — | $5.1B | ||
| Q2 24 | — | $5.3B | ||
| Q1 24 | — | $5.5B |
股东权益EAQVCGA
| Q4 25 | $6.2B | $-3.1B | ||
| Q3 25 | $6.0B | $-3.1B | ||
| Q2 25 | $6.1B | $-3.0B | ||
| Q1 25 | $6.4B | $-981.0M | ||
| Q4 24 | $7.4B | $-971.0M | ||
| Q3 24 | $7.4B | $397.0M | ||
| Q2 24 | $7.4B | $328.0M | ||
| Q1 24 | $7.5B | $255.0M |
总资产EAQVCGA
| Q4 25 | $13.3B | $7.6B | ||
| Q3 25 | $11.9B | $7.6B | ||
| Q2 25 | $11.7B | $6.7B | ||
| Q1 25 | $12.4B | $9.0B | ||
| Q4 24 | $13.5B | $9.2B | ||
| Q3 24 | $13.1B | $10.8B | ||
| Q2 24 | $12.7B | $10.9B | ||
| Q1 24 | $13.4B | $11.0B |
负债/权益比EAQVCGA
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 12.74× | ||
| Q2 24 | — | 16.28× | ||
| Q1 24 | — | 21.53× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $1.8B | $244.0M |
| 自由现金流经营现金流 - 资本支出 | — | $191.0M |
| 自由现金流率自由现金流/营收 | — | 7.1% |
| 资本支出强度资本支出/营收 | — | 2.0% |
| 现金转化率经营现金流/净利润 | 20.75× | — |
| 过去12个月自由现金流最近4个季度 | — | $118.0M |
8季度趋势，按日历期对齐
经营现金流EAQVCGA
| Q4 25 | $1.8B | $244.0M | ||
| Q3 25 | $130.0M | $4.0M | ||
| Q2 25 | $17.0M | $86.0M | ||
| Q1 25 | $549.0M | $-60.0M | ||
| Q4 24 | $1.2B | $212.0M | ||
| Q3 24 | $234.0M | $20.0M | ||
| Q2 24 | $120.0M | $267.0M | ||
| Q1 24 | $580.0M | $26.0M |
自由现金流EAQVCGA
| Q4 25 | — | $191.0M | ||
| Q3 25 | — | $-27.0M | ||
| Q2 25 | — | $48.0M | ||
| Q1 25 | — | $-94.0M | ||
| Q4 24 | — | $150.0M | ||
| Q3 24 | — | $-23.0M | ||
| Q2 24 | — | $213.0M | ||
| Q1 24 | — | $-14.0M |
自由现金流率EAQVCGA
| Q4 25 | — | 7.1% | ||
| Q3 25 | — | -1.2% | ||
| Q2 25 | — | 2.1% | ||
| Q1 25 | — | -4.5% | ||
| Q4 24 | — | 5.1% | ||
| Q3 24 | — | -1.0% | ||
| Q2 24 | — | 8.8% | ||
| Q1 24 | — | -0.6% |
资本支出强度EAQVCGA
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.7% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | — | 1.8% | ||
| Q2 24 | — | 2.2% | ||
| Q1 24 | — | 1.7% |
现金转化率EAQVCGA
| Q4 25 | 20.75× | — | ||
| Q3 25 | 0.95× | — | ||
| Q2 25 | 0.08× | — | ||
| Q1 25 | 2.16× | — | ||
| Q4 24 | 4.01× | — | ||
| Q3 24 | 0.80× | — | ||
| Q2 24 | 0.43× | 13.35× | ||
| Q1 24 | 3.19× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
EA
| Live Services And Other Net Revenue | $1.3B | 67% |
| PC And Other Net Revenue | $465.0M | 24% |
| Packaged Goods Net Revenue | $86.0M | 5% |
| Other | $56.0M | 3% |
| Estimated Service Offering Period | $25.0M | 1% |
QVCGA
| Other | $915.0M | 34% |
| Home | $754.0M | 28% |
| Beauty | $260.0M | 10% |
| Apparel | $254.0M | 9% |
| Electronics | $187.0M | 7% |
| Accessories | $181.0M | 7% |
| Jewelry | $87.0M | 3% |
| Manufactured Product Other | $38.0M | 1% |
